“One Belt and One Road” for Chinese Dragon

China and its "One Belt - One Road" project, is proceeding with its plans to hold conferences and state infrastructure contracts through loans and grants for the countries on that belt or road.

China, as of now is engaged in a trade war with the United States, Recently, pledged at a China-India summit to open its markets more broadly to India's exports to reduce its trade deficit, which is around to benefit China by about $ 60 billion a year

China, according to press reports is looking from that conference for reducing India's closeness with the United States and in the other hand, India wants China to adjust the balance in trade,and that despite the tension with India in Kashmir and Nepal which hinders the Chinese project "One Belt - One Road” in some way.

Bloomberg agency recently released a report on the 20 most powerful countries by 2024, That expected that a slowdown in China's economic growth is expected to continue and will be a smaller contributor to global GDP growth in the near term as that China's share of global GDP growth is expected to fall from 32.7% to 28.3% by 2024 according to the agency.

China's economic growth in the fourth quarter fell to its lowest level in nearly three decades, hit by the fallout from the trade war with the United States while still the world's second-largest economy.

It is reported that the ongoing negotiations may only positively affect trade sentiment by making a simple deal possible, with most import tariffs remaining in China, damaging the Chinese economy in the long term.

The US House of Representatives adopted three measures against China that related to the demonstrations in Hong Kong and the chief financial officer of Huawei, as accused the Chinese technology company of violating US sanctions against Iran.

Some reports say that may there an initial trade deal reached, that to stop the US tariff increases that were supposed to be implemented earlier. President Donald Trump had also said that intellectual property, financial services, and agricultural purchases were also included in the agreement.

Finally, will the Chinese dragon stay in one direction and one belt or look for more options and compromises to get out of this situation, which is beginning to notice their negative effects on the Chinese economy and then on the international economy as well.

‏ E-mail: fhshasn@gmail.com

Twitter: @farhan_939

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Riyadh Daily, published by the Al-Yamamah Press Establishment, is the first English daily published from the Saudi capital. Along with its sister publication, Al-Riyadh Arabic newspaper, Riyadh Daily has a long history in the Kingdom’s media industry. It was first published as a newsletter in the 1960s before it was developed into a broadsheet in 1985.